Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) Downgraded by ValuEngine to “Sell”

ValuEngine cut shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) from a hold rating to a sell rating in a report released on Friday, October 6th.

PGNX has been the subject of a number of other reports. Aegis reiterated a buy rating and issued a $14.00 target price on shares of Progenics Pharmaceuticals in a research note on Tuesday, August 22nd. Cantor Fitzgerald reissued a buy rating and issued a $15.00 price target on shares of Progenics Pharmaceuticals in a research report on Wednesday, September 27th. Needham & Company LLC reissued a strong-buy rating and issued a $14.00 price target on shares of Progenics Pharmaceuticals in a research report on Friday, September 1st. Zacks Investment Research raised shares of Progenics Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, July 5th. Finally, Jefferies Group LLC reissued a buy rating and issued a $12.00 price target on shares of Progenics Pharmaceuticals in a research report on Thursday, June 8th. Three research analysts have rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $13.20.

Shares of Progenics Pharmaceuticals (NASDAQ:PGNX) opened at 6.58 on Friday. The stock’s 50 day moving average is $6.81 and its 200-day moving average is $6.93. The firm’s market cap is $462.37 million. Progenics Pharmaceuticals has a one year low of $4.60 and a one year high of $11.72.

Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). The company had revenue of $2.77 million for the quarter, compared to analyst estimates of $3.34 million. Progenics Pharmaceuticals had a negative return on equity of 4.11% and a negative net margin of 6.13%. The business’s revenue for the quarter was down 67.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.08) earnings per share. Analysts anticipate that Progenics Pharmaceuticals will post ($0.90) EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Progenics Pharmaceuticals by 149,468.9% during the first quarter. BlackRock Inc. now owns 9,523,053 shares of the biotechnology company’s stock worth $89,897,000 after buying an additional 9,516,686 shares in the last quarter. Vanguard Group Inc. boosted its stake in Progenics Pharmaceuticals by 4.1% during the second quarter. Vanguard Group Inc. now owns 4,300,478 shares of the biotechnology company’s stock worth $29,200,000 after buying an additional 167,708 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in Progenics Pharmaceuticals by 50.8% during the second quarter. Eagle Asset Management Inc. now owns 4,012,366 shares of the biotechnology company’s stock worth $27,243,000 after buying an additional 1,352,245 shares in the last quarter. State Street Corp boosted its stake in Progenics Pharmaceuticals by 42.7% during the second quarter. State Street Corp now owns 3,708,788 shares of the biotechnology company’s stock worth $25,186,000 after buying an additional 1,110,067 shares in the last quarter. Finally, Park West Asset Management LLC boosted its stake in shares of Progenics Pharmaceuticals by 102.1% in the 1st quarter. Park West Asset Management LLC now owns 2,494,096 shares of the biotechnology company’s stock valued at $23,544,000 after purchasing an additional 1,259,910 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

About Progenics Pharmaceuticals

Progenics Pharmaceuticals, Inc is engaged in developing medicines and other products for targeting and treating cancer. The Company’s pipeline includes therapeutic agents designed to target cancer (AZEDRA and 1095); prostate specific membrane antigen (PSMA)-targeted imaging agents for prostate cancer (1404 and PyL), and imaging analysis tools.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Progenics Pharmaceuticals (NASDAQ:PGNX)

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